Raleigh Wheels: Video Transcript: In the last 10 to 15 years, there\'s been a hu
ID: 326137 • Letter: R
Question
Raleigh Wheels:
Video Transcript:
In the last 10 to 15 years, there's been a huge push
for technological advancements.
We all kind of refer to it as the Lance Effect,
lighter, faster, better, more.
With everybody in the industry kind of jumping on that wagon,
and really trying to push that kind of stuff,
it was easy for a company to get lost in the middle of it,
we kind of realized that we really need to get back
to who we were, and what the consumers really expected
from Raleigh Bicycle.
Hi, my name's Brian, I'm the Raleigh Marketing guy.
Raleigh's been around since 1887, started off in Nottingham,
England, and Raleigh really became known
for being the original, all steel bike manufacturer,
it was a big push for us for a long time,
we've been through several wars,
in which there have been minor changes here, and there,
but Raleigh's been around for a long time.
Raleighs were considered a status symbol,
like you really knew that you had made it, when you had had a,
when you owned a Raleigh, and every person that I talk to,
at some point or another, they always kind of refer
to like their first, real bike being a Raleigh.
[ Music ]
>> The European lifestyle has definitely been a factor
with it, we've paid attention to a lot of trendsetter that are
over there with it,
mainly because everybody there does bike,
everybody gets around, but they don't do it in a, in a way,
in a form that they have to be all spandexed out,
they do it as a, as a lifestyle,
more than like a training pursuit, or anything like that.
But then, over here, as of recent,
there's been a huge surge in the messenger market,
everyone's been kind of going for this, like,
bike messenger kind of look, which is very casual,
very light, wearing jeans and t shirts,
and riding their bikes around, and those guys were all
about steel, and so, they've really brought back a lot
of the old bikes, including a lot of old Raleighs,
and paying attention to those guys, has really kind
of pushed us towards some of the bikes
that we're making right now, which are all steel.
Our target market already have bikes as a lifestyle choice,
that, that's, that's how they get around, that's how they,
they function in every day society, that's,
that's what they do, it's amazing the kind of feedback,
and the kind of different direction you can get from some
of the different blogs that are out there,
they almost do market research for us, and their opinions,
like really helped drive and kind of focus a lot of things,
plus the, the social networking with chatting with people,
and getting their,
their feedback immediately, has been incredible.
>> They're like a hot commodity around here, they are.
>> We, we actually have two models of this thing,
one with like a traditional drop bar on it, but then yeah,
this one with the, the flat bar that's on it, so.
>> I'm going to be traveling around, doing various,
various rides with people, got a whole demo fleet
that will be out there.
You can read about it, you can see it on the internet,
you can see pictures, but until you actually ride a bike,
that's when you get the bike.
>> There's a few misconceptions about steel, the main one being
that it's kind of heavy, which refined right, steel is,
steel can be very light, the thing about steel though,
that separates it from like the other materials that are
out there, is its ride quality, and its feel,
the way that people feel that they connect
with the steel road bike that's out there, it's,
it feels like nothing else, it's the only frame material
that everyone in the industry refers to as having a soul,
which kind of connects with people a little bit more,
plus steel is kind of that forever material.
>> It feels really good, it's got a real solid feel,
but it's kind of soft and, it's fun to ride.
>> I actually used to have a bike like this, kind of,
that got stolen, and now I'm riding my other one,
'cause I have no option, but how much is it?
[ Inaudible ]
>> 1700? Yeah, well, the one I'm riding now, I paid like 1200
or so, for it back in college, and this is the kind of thing
that doesn't require as much maintenance,
and would probably feels like it would last me a long time,
so I think I could definitely probably justify spending
that money in that regard,
but it might be harder sell with the one.
>> Since so many of us ride,
and we're out every day doing this stuff,
we see what people want, we kind of hear what they want,
'cause I'm chatting with people all the time, whether it's
at coffee shops, or at local bars, or the local race,
or at the local Alley Cat, you're out there,
you're seeing what people want, and you just kind of,
once you pay attention to that, you kind of get it
from those people that are really in the scene, they've,
they've, they've seen that we've gone back to our roots,
and everyone's been praising us for that,
especially if we're really pushing the steel bikes that are
out there, 'cause no one else is doing that,
and the praise has been really well received,
and we can see that, we can track it,
we can see where it's coming from, and when it's
from these people that are well reputed, it validates everything
that we're doing, it's like,
it's helping us push forward with it.
[ Background Music ]
Answer these multiple choice questions:
1)Raleigh has been making bicycles for more than a century and has built a reputation for quality that contributes to its brand loyalty. Satisfying and building long-term relationships with customers may be more profitable for the firm than identifying new ones. A measure of a customer’s worth to a business during one’s lifetime is called
- customer-oriented concept.
- customer-lifetime value.
- customer relationship marketing.
- customer-segmentation value.
- customer-lifetime profit.
2)To differentiate itself from competitors, Raleigh returned to its roots by making bicycles with all-steel frames. This differentiation suggests that Raleigh is using a market segmentation approach. Which of the following seems to be the primary basis Raleigh is using to segment the market for bicycles?
Motives
Race
Personality
Age
Lifestyle
3)To help consumers gain information and experience with its products, Raleigh conducts rides in cities around the U.S. on its demo fleet. This best relates to which marketing mix element?
Segmentation
Price
Product
Distribution
Promotion
4)Raleigh’s marketing team gathers, records, and analyzes information about what its customers want by interacting with them in stores and on demo test rides, from blogs and from social media. For Raleigh, this information is
the marketing concept
its marketing mix
its marketing plan
marketing research.
its marketing information system.
5)Like all firms, Raleigh must monitor the marketing environment and adjust its marketing mix and strategy as necessary. Which of the following directly relates to consumers’ ability to buy Raleigh bikes?
Sociological forces
Competitive forces
Legal and regulatory forces
Economic forces
Technological forces
*please answers these question correct because when i post the question i always get wrong answer.
Explanation / Answer
1. - customer-lifetime value.
By the term customer lifetime value expects the profit which is associated with all the customers for the long term relationships along with the company. When the customer lifetime value is applied the marketing manager can make out the value which is related with the long term relationship along with the customer.
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